Pepecoin to the Moon: Evaluating the Possibility of a $1 Price
Gracy Chen, CEO of Bitget, has expressed skepticism regarding Pepecoin’s potential to reach a $1 price, citing its total supply of 42 billion tokens.
Achieving a $1 price would require a market capitalization of $420 trillion, which far surpasses the total current market capitalization of all cryptocurrencies.
Despite this, Chen acknowledges that top meme coins have historically achieved market capitalizations exceeding $10 billion during bullish market periods.
With Pepecoin’s current market capitalization standing at approximately $3.4 billion, there is a potential pathway to reaching a $10 billion valuation, provided the community support remains strong.
In summary, while Pepecoin shows room for growth based on market cap and community backing, reaching a $1 price would demand an unprecedented scale of market capitalization, making it highly improbable.